STIMULATING INNOVATIONS AND PERFORMANCE OF COMPANIES IN BOSNIA AND HERZEGOVINA

The paper explores the perception of innovations and importance of innovativeness, determines innovation potential and links the application of innovations in companies to the material stimulation of employees. The aim of the paper is to provide information on encouraging and developing the culture...

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Bibliographic Details
Published in:Ekonomski vjesnik 2016-01, Vol.29 (2), p.381-391
Main Authors: Mihic, Andrijana Ostojic, Stipanovic, Christian, Alfirevic, Ana-Marija
Format: Article
Language:English
Subjects:
barriers to innovativeness
Bosnia and Herzegovina
Business Economy / Management
Business models
business success
Competitive advantage
development
Economic growth
Employees
Human resource management
Hypotheses
innovation potential
Innovations
Knowledge
Motivation
National Economy
Studies
Success
Technological change
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Summary:The paper explores the perception of innovations and importance of innovativeness, determines innovation potential and links the application of innovations in companies to the material stimulation of employees. The aim of the paper is to provide information on encouraging and developing the culture of innovations and on strengthening the awareness of the importance of material motivation for the creation of innovations. The paper presents an overview of the existing findings on the company’s innovation potential and the possibility to encourage innovations by means of the selected tools and techniques of human resource management. The contribution of the paper is based on the empirical research of a representative sample of 250 medium-size and large companies in Bosnia and Herzegovina (BiH) using the methodology of the Croatian Coefficient of Innovativeness (HKI), whereby special attention is given to the observation of the possible link between stimulating employees to innovate and accomplishing the company’s selected performance.
ISSN:0353-359X
1847-2206